AIG's US P&C subsidiaries aren't undercutting market - GAO
(BESTWIRE) - Insurance brokers and buyers report no extraordinary underpricing by American International Group Inc.'s commercial property/casualty subsidiaries, but the units "likely received some indirect benefit to the extent that the property/casualty insurers would have been adversely affected by a credit downgrade or failure of the AIG parent," a new report by the U.S. Government Accountability Office concludes.
Requested by Reps. Paul Kanjorski, D-Pa., and Spencer Bacchus, R-Ala., in response to allegations by Liberty Mutual and other major competitors that AIG was using the more than $182.5 billion in
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